Wasatch Advisors LP Acquires 130,351 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Wasatch Advisors LP raised its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 3.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,848,588 shares of the biopharmaceutical company’s stock after acquiring an additional 130,351 shares during the quarter. Intra-Cellular Therapies comprises 1.4% of Wasatch Advisors LP’s holdings, making the stock its 24th biggest holding. Wasatch Advisors LP’s holdings in Intra-Cellular Therapies were worth $281,601,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Avoro Capital Advisors LLC grew its holdings in Intra-Cellular Therapies by 21.2% during the second quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock valued at $205,470,000 after purchasing an additional 525,000 shares during the period. Perceptive Advisors LLC grew its holdings in Intra-Cellular Therapies by 62.6% during the second quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company’s stock valued at $117,557,000 after purchasing an additional 661,052 shares during the period. Westfield Capital Management Co. LP grew its holdings in Intra-Cellular Therapies by 11.2% during the third quarter. Westfield Capital Management Co. LP now owns 1,159,356 shares of the biopharmaceutical company’s stock valued at $84,830,000 after purchasing an additional 116,494 shares during the period. Millennium Management LLC grew its holdings in Intra-Cellular Therapies by 214.5% during the second quarter. Millennium Management LLC now owns 889,102 shares of the biopharmaceutical company’s stock valued at $60,895,000 after purchasing an additional 606,358 shares during the period. Finally, Eagle Asset Management Inc. grew its holdings in Intra-Cellular Therapies by 130.5% during the third quarter. Eagle Asset Management Inc. now owns 624,759 shares of the biopharmaceutical company’s stock valued at $45,714,000 after purchasing an additional 353,723 shares during the period. 92.33% of the stock is owned by institutional investors.

Insider Activity

In related news, President Michael Halstead sold 22,869 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total value of $2,038,085.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ITCI. UBS Group cut their price target on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. The Goldman Sachs Group cut their target price on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 target price on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Royal Bank of Canada raised their target price on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $68.00 to $92.00 in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.23.

Intra-Cellular Therapies Stock Performance

ITCI stock opened at $85.65 on Friday. The firm has a 50 day moving average price of $80.27 and a 200-day moving average price of $75.42. Intra-Cellular Therapies, Inc. has a 52-week low of $58.92 and a 52-week high of $93.45. The firm has a market capitalization of $9.08 billion, a price-to-earnings ratio of -98.45 and a beta of 0.97.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The business had revenue of $175.40 million for the quarter, compared to analysts’ expectations of $172.30 million. During the same quarter in the previous year, the business posted ($0.25) earnings per share. Intra-Cellular Therapies’s revenue for the quarter was up 39.0% on a year-over-year basis. As a group, sell-side analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

About Intra-Cellular Therapies

Intra-Cellular Therapies, Inc, a biopharmaceutical company, focuses on the discovery, clinical development, and commercialization of small molecule drugs that address medical needs primarily in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms in the central nervous system (CNS) in the United States.